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20121202
20121210
Search Results 0 to 3 of about 4 (some duplicates have been removed)
deals we have a big cut to defense budget, nondefense. add up it it's 4.5% of the nation's g.d.p. that jus evaporates. >> schieffer: what do you, will happen? >> i didn't believe we would get as close to the wire. i sit in exphurk and look from the mark's perspective. i think there were great hopes that we would do better than we have so far. i am worried we will go over the fiscal cliff, in part to have a reset. if we any over, republicans could start talking about cutting taxes on the middle class, as opposed to keeping them up on the rich. and the democrats will could potentially get a better deal. we can see this has happened in europe. when you have this kind of brinksmanship over and over and over again, and you go back and forth, markets start to get very burden they've been very volatile. and i think businesses have been holding back on investments. you can see big capital spending by businesses in last four months has been way down, about 8%. there should be a boom going on right now. we have a construction market boom, we have an energy field that is booming. compan
pilot responsible and it's going to squeeze out all the discretionary think about-- defense, r&d, research, all the things you love. erskine and i always say, what do you love? and they name something and we say forget it because this is wiping everything. it's just a destructive force. no cost containment till down the road. >> schieffer: sore erskine bowles, what this shea do, what is the next thing that should happen to get this result? >> i'm a little more encouraged than i would have been if you had asked me about it a week ago. we were going through the kabuki theater, one side making an offer and the other side rejecting it. that's natural in any deal. any time you have two guys in there tangoing you have a chance to get it done. first of all, most important thing is if we're going to raise revenue and if we're going to raise it in any form, then we darn well better cut spending because spending is the biggest part of this problem, and the biggest part of that problem is the fact that health care is growing at a faster rate than g.d.p. i think we made some progress this
Search Results 0 to 3 of about 4 (some duplicates have been removed)